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Oando Acquires Oil Block In Angola

Oando Plc  Favour Ifeoluwa & Akinola Ajibade  Oando Plc  says it has completed and won the bid for the operatorship of oil block KON 13 in Angola. The firm which recently acquired Eni of Italy’s oil assets in Nigeria, said that the award of the oil block located in Angola’s onshore Kwanza Basin followed a competitive bidding process by the country’s oil and gas sector regulator. It further said hat the asset in which it owns 45 per cent participating interest, has estimated prospective resources of 770 to 1,100 million barrels of oil. Oando is handling its operations relating to the asset through its upstream subsidiary, Oando Energy Resources (OER). “Oando Plc,  Africa’s leading indigenous energy solutions provider listed on both the Nigerian Exchange Limited and Johannesburg Stock Exchange is pleased to announce that its upstream subsidiary, Oando Energy Resources (OER), has been awarded operatorship of Block KON 13 in Angola’s Onshore Kwanza Basin, following a...
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Why micro insurance institutions undertake financial inclusion initiative- NAICOM. By Akinola Ajibade


Why micro institutions undertake financial inclusion initiative- NAICOM

The  Commissioner for Insurance,Mr Sunday Olorundare Thomas has explained that its reason for issuing operating licenses to micro insurance institutions was to ensure that Nigerians at the grass roots were not left out in the financial inclusion initiative of the federal government. 
 Thomas, stated this at the financial inclusion strategy conference organised by the Oriental News Nigeria, a Lagos based finance news online. The conference was tagged, “Engaging with Critical Groups to Develop Effective Financial Inclusion Initiative.” Represented by the Deputy Director/Head Corporate Communications & market Development NAICOM, Mr Rasaaq Salami, Thomas said micro insurance provided the leeway to protecting people’s property, safeguarding belongings from damages or loss and ensuring the insured did not suffer loss when the unexpected damage or loss occurs. Also speaking, the Director General Securities and Exchange Commission (SEC), Lamido Yuguda stated his commitments towards ensuring that every segment of the society was covered in the ongoing financial inclusion initiative of the federal government. The Executive Vice Chairman, EVC, of the Nigerian Communications Commission (NCC), Prof. Umar Dambatta, noted that the best approach towards benefitting from globalised digital economy was to be financially inclusive.



The National Insurance Commission (NAICOM), has explained that its reason for issuing operating licenses to micro insurance institutions was to ensure that Nigerians at the grass roots were not left out in the financial inclusion initiative of the federal government. The Commissioner for Insurance, Mr Sunday Olorundare Thomas, stated this at the financial inclusion strategy conference organised by the Oriental News Nigeria, a Lagos based finance news online. The conference was tagged, “Engaging with Critical Groups to Develop Effective Financial Inclusion Initiative.” Represented by the Deputy Director/Head Corporate Communications & market Development NAICOM, Mr Rasaaq Salami, Thomas said micro insurance provided the leeway to protecting people’s property, safeguarding belongings from damages or loss and ensuring the insured did not suffer loss when the unexpected damage or loss occurs. Also speaking, the Director General Securities and Exchange Commission (SEC), Lamido Yuguda stated his commitments towards ensuring that every segment of the society was covered in the ongoing financial inclusion initiative of the federal government. The Executive Vice Chairman, EVC, of the Nigerian Communications Commission (NCC), Prof. Umar Dambatta, noted that the best approach towards benefitting from globalised digital economy was to be financially inclusive.

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